Article Abstract

	Title:	Chaos theory: forecasting the freight rate of an oil tanker
	Author:	Eleftherios I. Thalassinos, Mike P. Hanias, Panayiotis G. Curtis, Yannis E. Thalassinos
	Address:	University of Piraeus, Department of Maritime Studies, Karaoli and Dimitriou 40, 185-32 Piraeus, Greece. ' Technological Educational Institute, Department of Engineering, Psachna, Chalkis, Greece. ' Technological Educational Institute, Department of Accounting, Psachna, Chalkis, Greece. ' Technological Educational Institute, Department of Accounting, Psachna, Chalkis, Greece
	Journal:	International Journal of Computational Economics and Econometrics 2009 - Vol. 1, No.1  pp. 76 - 88
	Abstract:	The main aim of this paper is to predict the Aframax tanker charter rate index by using methods from non-linear analysis especially from chaos theory as is the method of false nearest neighbours (FNN). This is the result of the new emerging field of econo-physics which mainly consists of autonomous physico-mathematical models that have been already applied to the financial markets and now in particular aspects of the complex non-linear dynamics of several maritime indices such as the time charter rate of an Aframax tanker.
	Keywords:	chaos theory; strange attractors; shipping indices prediction; freight rates; oil tankers; Aframax tanker charter rate index; false nearest neighbours; FNN.
	DOI:	10.1504/IJCEE.2009.029154
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